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New Delhi, Aug 30: Indian investors are becoming net-savvy. Monthly turnover of online trades on the National Stock Exchange (NSE) has touched a high of Rs 6,819 crore in July 2004 and its share of total monthly turnover is also at a high of 7.3 per cent. The share was 3.3 per cent in July 2003 and 4.5 per cent in January this year.
Vipul Shah, Investsmart’s head of net-trading, contends, ‘‘Declining cost and easy internet access are making online trading popular. We expect to relaunch our internet trading platform in 15-20 days to capture some of the growth in the segment.’’ Indiabulls’ national head of online trading, Gagan Banga, says,‘‘Experiences in other developed markets across the world point to a similar trend. In US and Singapore, internet trading accounts for 60-80 per cent of total retail turnover. We expect the share of online trading to hit double digits soon and see it doubling over the next 2-3 years.’’
Monthly internet-trading turnover was up 159 per cent in July 2004 over July 2003 and 2,158 per cent over July 2002. This, even as total turnover on NSE grew 19 per cent and 83 per cent, respectively. The number of clients registered with 70 brokerages offering online trading surged from near 4.7 lakh in February to 6.3 lakh on July 30.
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